Federal Budget 2017

The Federal 2017 budget is found in the link below.

http://www.budget.gc.ca/2017/docs/plan/toc-tdm-en.html

Changes:

A few changes were made to the taxation of Canadians, including:

  • Removal of the public transit credit
  • Expiration of the first time donor super credit
  • Consolidation of infirm dependent credit, caregiver credit and family caregiver credit into the Canada caregiver credit

Other items:

Of more importance, there was intense speculation that there would be an increase to the capital gains inclusion rate, however this remained unchanged along with the principal residence exemption.

If there is anything tax related that you wish to discuss, our chartered professional accountants can help!